Hyundai Rotem wins 450bn won in Brazilian deal

Hyundai Rotem Co., a South Korean tank and train maker, said Sunday that it has clinched a 450 billion won (US$404.8 million) order to supply rail cars to Brazil. The order was placed by the transportation authority of Sao Paulo, which is responsible for building metro systems in the largest city of the South American country. Hyundai Rotem said it plans to jointly manufacture the rail cars with other Brazilian companies to produce localized versions of the products. Since the company's penetration into the Brazilian market in 2003 by selling 24 rail cars to the northeastern city of Salvador, Hyundai Rotem has sold 518 rail cars to three Brazilian cities priced at 900 billion won.